Tuesday, April 11, 2017

Understanding what gross margin is and how to calculate is critical for both pricing determination and profitability. For new business owners who often start a business focused on their craft instead of on the financing or financials, it is very important to master this concept before you begin selling products.

To help you understand gross margin, here is a video that explains the concept in straightforward terms and uses simple calculations on a white board for illustrative purposes.

Gross Margin - Video

Here is the description provided by YouTube: "Understanding the financial end of your business is crucial to your
business success. In this video Bob helps you understand the difference
between "gross margin" and "gross margin percentage"."

Thursday, April 6, 2017

I was a guest on the Money Talk with Melanie radio show. During that radio interview, we discussed a number of topics related to small business funding. This includes small business financing sources, traditional and non-traditional, growing to the next stage, and funding start-ups and new ideas. The entire program is approximately 55 minutes long, but you can skip ahead or around as you wish.

If you have follow-up questions, you can obtain answers through the book, The Funding Is Out There! Access the Cash to Impact Your Business (available at Amazon.com or BarnesnNoble.com). Alternatively, you can contact me by sending a message through The Resourceful CEO contact page.